Fortinet Prepares for Q2 Earnings with Focus on Product Revenue Growth
Fortinet Inc (NASDAQ:FTNT) is set to report its second-quarter earnings results on July 29, 2026. Jefferies analysts note that the company must demonstrate stronger product revenue growth to reinforce investor confidence in the sustainability of recent performance gains. The firm anticipates solid trends driven by price increases and improving demand for firewalls despite inventory constraints. Analysts also highlight Fortinet's billings as a key focus, expecting it to exceed second-quarter guidance with 20% year-over-year growth at the midpoint. However, Jefferies does not anticipate management raising full-year billings forecasts due to tougher comparisons in the back half of the year and longer lead times for appliances. Fortinet's non-GAAP operating margin is expected to reach a midpoint of 34%, supported by recent pricing actions and lower-cost inventory. Investors will also be watching its SASE business as it expands bundled offerings.
Tickers: $FTNT
Topics: billings guidance Fortinet margin expectations product revenue growth